Chile rejects Tianqi’s appeal for vote in SQM-Codelco lithium deal
Chile's financial regulator had allowed a planned lithium joint venture between SQM and Codelco to proceed without a vote by SQM shareholders.
Chilean lithium miner SQM said on Monday it would need to invest $2 billion of additional capital to achieve results in line with the firm’s environmental sustainability goals, which it said also align with the government’s lithium strategy.
SQM’s statement followed a meeting with national production agency CORFO over the scope and objectives of the government’s new lithium strategy. SQM said it been informed that state miner Codelco would lead negotiations with the company.
(By Alexander Villegas and Sarah Morland; Editing by David Alire Garcia)
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